Assume the Market Was in Equilibrium in the Graph Shown

question 100

Multiple Choice

Assume the market was in equilibrium in the graph shown.If the market price were set to $12,which of the following is true?

• A) For those still interacting in the market, some surplus is transferred from buyer to seller.
• B) For those still interacting in the market, some surplus is transferred from seller to buyer.
• C) Producers gain the surplus of those buyers who dropped out of the market.
• D) Consumers gain the surplus of those sellers who dropped out of the market.